ECB Set to Clarify Future of PEPP; Upgrade Inflation Forecasts
— But Details of Post-PEPP Stimulus Unlikely to Come From Dec Meeting LONDON (MaceNews) – The European Central Bank is likely to provide greater detail on the winding up of its emergency asset purchase programme following its policy meeting this week, but is unlikely to say much about further quantitative easing. “This is more of […]
BofA Global Research Fund Manager Survey: Global Investors Increase Cash Holdings In December In Anticipation of World Central Bank Tightening in 2022
–On Average, Investors Expect Fed Taper to End by April 2022 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors increased their cash holdings in December, wary of putting new monies to work ahead of expected world central bank tightening in 2022, according to the findings of BofA Global Research’s monthly fund manager survey, released […]
Italy Backs EU Council’s Switch To Qualified Majority Voting, ‘Key’ To Boost Integration
By Silvia Marchetti ROME (MaceNews) – Italy supports switching from unanimity in votes on tax and defense policy within the European Council to a qualified majority, which according to ruling coalition sources will speed up the decision-making and integration process. The proposal of changing the voting system within the EU Council, which represents member states, […]
Italy-France Pushing for ‘Single EU Debt’ to Fund Post-Pandemic Growth; Germany’s Stance on Closer Fiscal Integration in Post-Merkel Era Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – Italy and France are pushing for issuance of a ‘common European public debt’ to fund long-term pro-growth investments with the additional goal of strengthening the single currency and boosting European integration, Italian official sources say. Sources say Europe faces a turning point with the departure of former Chancellor Angela Merkel, […]
Election of Italy’s Next President Will Favor ‘Continuity of Policy’ with Draghi’s Cabinet – Sources
By Silvia Marchetti ROME (MaceNews) – The appointment by parliament of Italy’s next head of state is likely to raise political tensions as parties seek a deal on the successor, with rising speculation that current premier Mario Draghi could be taking over the role, according to ruling coalition sources. Officials argued that coming weeks will […]
Eurozone Consumer Prices Rise 4.9% in November from A Year Ago on Energy Costs
ZURICH (MaceNews) – Consumer prices in the Eurozone are expected to rise 4.9 percent in November from a year ago, exceeding economists’ expectations according to preliminary HICP data released today by Eurostat. Economists had been expecting a price increase of 4.4 percent compared to year ago, according to the median of an Econoday survey of […]
Eurozone Economic Confidence Fell in November, Matching Expectations
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro fell in November, falling 1.1 points to 117.5, according to the latest report from the European Commission. The result was exactly in-line with the median of an Econoday survey of economists’ forecasts. Among sectors for the eurozone in November the results were as follows: […]
ECB’S Schnabel: Forecasts Show November is High Point of Inflation
ZURICH (MaceNews) – Currently surging inflation is seen peaking in November and then moving lower to once again fall below two percent, ECB governing council member Isabel Schnabel said in an interview Monday with Germany’s ZDF broadcaster. Inflation in the coming year will recede in direction of the ECB’s goal of 2 percent and many […]
Covid and Supply Bottlenecks Dampen German Business Sentiment in November
ZURICH (MaceNews) – Business sentiment in Germany fell in November as concerns over a fourth Covid wave and continued supply chain bottlenecks dampened both current conditions and expectations according to the latest report from the Munich-based Ifo Institute. The Business Climate Index median fell to 96.5 in November, slightly below the median of 96.7 in […]
Eurozone October Final HICP Rose 4.1% vs Year Ago, Matching Preliminary Result
ZURICH (MaceNews) – Inflation in the countries sharing the euro rose 4.1% in October, according to final figures released today by Eurostat, and confirmed the preliminary result. Energy prices were the main driver of the gain as they were 23.7% higher than year ago levels, and contributed 2.21 percentage points to the overall increase, according […]